SJW's San Jose Water reaches settlement in 2025-2027 GRC; $450M capital budget approved

H2O AMERICA

Settlement with CPUC's Public Advocates Office filed August 19, excludes two policy issues to be litigated.
$450 million three-year capital budget for drinking water infrastructure approved.
Recovery of $15.8 million from balancing and memorandum accounts allowed.
CPUC decision expected Q4 2024; new rates effective January 1, 2025.
Settlement aligns usage via lower sales forecast and greater service charge revenue.

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